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Furthermore, the Federal Government's big loan-modification effort - abbreviated as HAMP - does little to help such borrowers since in many cases lenders will recoup more by foreclosing (the test any loan modification must pass). A recent Bank of America Merrill Lynch study of loan modifications at IndyMac, which provided the template for broader modification efforts, found that about 20% of subprime loans had been rewritten, while fewer than 8% of option ARMs got reloaded. (See pictures of TIME's Wall Street covers...
Senator Joe Lieberman is a far cry from the model politician. In addition to his past political eccentricities, his recent threat to help Republicans block key parts of the federal health-care legislation has angered more than a few people, including the notorious left-wing documentary director Michael Moore. Never one to sit on the sidelines when there’s a statement to be made, Moore has called upon his loyal fans to boycott all Connecticut businesses and institutions until Senator Lieberman comes to his (theoretical) senses. Moore’s plan is not only ill-conceived but also...
...fluent public speaker probably worked in his favor. If sentences like "I'm embarrassed. That I have put you. In this position," sounded a little Terminator-esque, they could be forgiven, given the circumstances. (The setting, with a weird blue "magic show" velvet curtain didn't help the awkwardness either.) (See the top 10 awkward press conferences...
...with Americans of all stripes dismayed by the legislative paralysis that's gripping the capital, some are beginning to question whether Obama's presence on the campaign trail will help or hinder Democratic candidates. Richard Blumenthal, the Connecticut attorney general who is running for the state's U.S. Senate seat, offered a tepid appraisal when asked recently if he expected Obama to campaign for him. "I don't know whether he would and I don't know whether we would ask. At this point, it is an open question," Blumenthal told students at Yale University in New Haven. Last month...
...more blunt. He called the event, which attracted more than 600 companies from 35 countries, a "one-stop shop." India is emerging as one of the most important defense markets in the world, with billions of dollars to spend, and the global defense industry is only too happy to help...